Greenland Technologies (NASDAQ:GTEC) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Greenland Technologies (NASDAQ:GTEC) released its quarterly earnings results on Friday. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04, Zacks reports. Greenland Technologies had a return on equity of 8.54% and a net margin of 6.27%.

Greenland Technologies Trading Down 1.4%

Shares of NASDAQ:GTEC traded down $0.01 on Friday, hitting $0.71. 805,676 shares of the company were exchanged, compared to its average volume of 940,396. The firm has a market capitalization of $14.58 million, a P/E ratio of 2.84 and a beta of 0.15. Greenland Technologies has a 1-year low of $0.47 and a 1-year high of $1.61. The stock’s 50 day moving average price is $0.57 and its 200 day moving average price is $0.67.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Greenland Technologies in a research note on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Greenland Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC acquired a new stake in Greenland Technologies during the 3rd quarter worth about $31,000. Centiva Capital LP acquired a new position in shares of Greenland Technologies in the third quarter valued at about $29,000. Finally, Mariner LLC increased its holdings in shares of Greenland Technologies by 97.1% in the fourth quarter. Mariner LLC now owns 40,596 shares of the company’s stock valued at $25,000 after purchasing an additional 20,000 shares during the period. Hedge funds and other institutional investors own 10.89% of the company’s stock.

About Greenland Technologies

Greenland Technologies Holding Corporation (NASDAQ: GTEC) is a China-based designer and manufacturer of clean energy solutions specializing in biomass resource utilization. The company develops and produces pellet fuel production lines, biomass boilers, pellet stoves and turnkey systems for sustainable heat and power generation. Its product portfolio also includes industrial‐scale pelletizers, dryers, combustion equipment and control systems optimized for agricultural and forestry residues.

Beyond equipment supply, Greenland Technologies provides engineering, procurement and construction (EPC) services, along with installation, commissioning and maintenance support for biomass energy facilities.